WEST WITS MINING LIMITED — Capital/Financing Update 2012

Nov 25, 2012

ASX: WWI

www.westwitsmining.com

ASX Announcement and Media Release Monday, 26[th] November 2012

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Fast Facts

Capital Structure @ 26 Nov 2012 Shares on issue 255 million Performance Shares 46 million DRD Entitlement Shares 38 million Options 61 million Market Cap A$4.3 million Cash in Bank A$1.8 million Debt Nil Enterprise Value (EV) A$2.5 million Current JORC Resource 287,000 EV / Resource oz A$9/oz

Company Directors & Management	Company Directors & Management
Michael Quinert	Executive Chairman
Vin Savage	Exec Dir
Neil Pretorius	Non-Exec Dir
Phillip Hains	Non-Exec Dir/ Co Sec
Hulme Scholes	Non-Exec Dir

Top Shareholders diluted
DRD Gold Ltd	13%
GOC Holdings Ltd	11%
Trevor Neale	5%
ECR Minerals PLC	4%
Top 40 Shareholders	74%

Company Highlights

• Indonesia

• High grade placer deposit

• o Project shows early stage similarities with discoveries inc; Porgera, Edie Creek, Wau

• o Independent geologists believe source of nuggets likely to be local, based on the size and shape of the nuggets discovered

 South Africa

• 287,000 ozs Au JORC Resource

• o near surface and underground targets

• o 31.8m ozs Au produced historically o Conceptual Target

• 3.85-5.06 million ozs Au

• o 16.5-21.7 million lbs U

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$1 million installment payment received

West Wits Mining Limited (“West Wits” or “the Company”) wishes to confirm receipt of the next $1 million instalment payment under the Randfontein sale agreement.

The payment schedule is as follows;

Instalment	Timing	Amount
Upfront payment	received	A$2 million
First instalment	received	A$1 million
Interim instalment	22 February 2013	A$1 million
Interim instalment	22 May 2013	A$1 million
Interim instalment	22 August 2013	A$1 million*
Final payment	Dependent on production +	A$ 3 million

*Subject to regulatory approval for the transfer of the leases

+Paid progressively based on R110 per tonne of ore processed, post the notional repayment of $5m advance payments made under the interim contract to mine.

West Wits is continuing to make important steps at the Derewo River Gold Project, Papua Province, Indonesia. The Company looks forward to providing further updates on the progress in due course.

For And On Behalf Of The Board

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Michael Quinert Chairman West Wits Mining Limited

Contact Details

West Wits Mining Limited ACN 124 894 060

Suite 1, 1233 High Street Armadale VIC 3143 T: +61(0)3 9824 8166 F: +61(0)3 9824 8161 E: info@westwitsmining.com

W: www.westwitsmining.com

Corporate Advisor

Peregrine Corporate Limited Tim Chapman T: +61 9824 8166 E: tchapman@peregrinecorporate.com.au